Business Description
The Company, a multi-generation family-owned business with over 70 years of experience, has grown into one of the largest independent contractors for HVAC service, repair, maintenance, and retrofit installation in one of the largest metropolitan areas in the US. The Company has built a stellar reputation as the preferred partner for a prestigious and diverse client base in both commercial and high-end residential markets, and its fleet consists of 100 vehicles that service customers across numerous states.
Background
The Buyer, a Fortune 1000 company and premier global HVAC corporation, was attracted to the Seller’s highly skilled technician base, best-in-class service capabilities, efficient fleet management systems, and marquee clients. This acquisition aligns with the Buyer’s strategic initiative to enhance its service capabilities and expand its reach in the Northeast.
Solution
Chris Reenock, Managing Director and CMG’s HVAC Industry Lead, commented, “We are delighted to have closed this important transaction for our client. We take great pride in leveraging our deep industry expertise and passion for the HVAC sector to help the Company continue the legacy of excellence they’ve built over multiple generations. Finding the right fit is critical in any M&A sale, but especially so when the owners remain actively involved in the business. The Buyer’s resources and support will be key to continue driving the Company’s growth, and we look forward to following their success.”
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